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Survey on proposed HOEPA changes

 


Home Ownership Counseling

The Dodd-Frank Act requires lenders to provide “a reasonably complete and updated list of certified homeownership counselors” to home mortgage applicants. The list is to be broken down by zip code and made available on a government website. The information is also to be included in a revised booklet on home buying provided to all mortgage applicants. When not enough counselors are available, neighboring zip codes can be used. (New York has similar requirements for certain loans.)

In your experience, how many counselors should reasonably be expected to be available in a given geographic area? Please choose one.




Should credit unions be required to give mortgage refinancing applicants access to a list of housing counselors?






Should credit unions be required to give individuals applying for a HELOC or closed-end home equity loan a list of housing counselors?